环境不确定条件下企业动态财务能力的分析框架

The Analysis Framework of Dynamic Financial Capability Under the Conditions of Uncertainty

分析了环境不确定条件下动态能力、财务柔性、权变财务研究的现状与不足,构建了动态财务能力分析框架。认为动态财务能力包括两个层次:第一层次包括财务状态评判能力、财务机会创造与识别能力;第二层次包括公司治理结构、组织结构和财权配置结构调整能力,财务战略及政策调整、财务资源整合能力。企业只有在正确评判财务状态、识别财务机会的基础上,适时调整公司治理结构、组织结构、财权配置结构、公司战略与政策,有效整合财务资源,才能实现环境、行为与价值的动态协调。

This paper first analyzed the current situation and weakness of research on dynamic capability, financial flexibility, contingency finance under the conditions of environmental uncertainty, and then constructed the framework of dynamic financial capacity. The dynamic financial capacity includes two levels： the first level includes financial status evaluation, financial opportunity to create and identify; the second level includes corporate governance, organizational structure and financial power configuration of structural adjustment, financial strategy and policy adjustments and the financial resources integration. Only correct evaluation of financial status and identification of financial opportunities can firms adjust corporate governance, organizational structure, financial power configuration structure, corporate strategy and policy timely, effectively integrate financial resources-to achieve environmental, behavioral and value dynamic coordination.